Datacenter fuel cells (SOFC)
Bloom Energy
A solid-oxide fuel-cell (SOFC) company. It can deploy on-site datacenter power within 90 days, emerging as a fast fix for AI power shortages. Up to 2.8GW with Oracle (1.2GW contracted), $2.7B with AEP, a $5B Brookfield partnership, and 500MW via SK ecoplant. Stock +1000% in 2025. The distributed-generation pillar of the power bottleneck.
BE Updated Jul 12, 2026 2 AI consumers
Per the valuechain.wiki graph, Bloom Energy is directly linked to 4 companies (1 supply, 3 revenue relationships) and reaches 8 companies within two hops; the links are backed by 8 dated sources, 3 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · $2.02bn (FY2025, +37.3%)
- Customer concentration · Up to 2.8GW Oracle, 500MW SK ecoplant, 99.999% uptime. On-site AI-datacenter power; 99.999% uptime.
- Segments · SOFC fuel cells · Datacenter on-site power
Revenue from
- Oracle · hyperscalers (fuel cells) High confidence· Capital spending ~2,800 MW · 2026 · Oracle deployment commitment (max)
On-site SOFC power for Oracle OCI and others (up to 2.8GW).Confirms KO Bloom Energy Korea Published Jan 1, 2026: Bloom Energy Korea (SK ecoplant SOFC fuel cells)Confirms EN Fortune Published Oct 16, 2025: Bloom Energy fuel cells solve AI datacenter power; stock +1000% - Oracle High confidence
Supplies SOFC on-site power to Oracle OCI (2.8GW). - American Electric Power High confidence
Supplies 1GW of SOFC fuel cells to AEP (largest utility fuel-cell deal).Confirms EN Bloom Energy official results Published Feb 5, 2026: Bloom Energy official results — bloom-energy results - Utilities · industrial (fuel cells) Medium confidence
AEP, Brookfield, SK ecoplant, Equinix, etc.Confirms EN Fortune Published Oct 16, 2025: Bloom Energy fuel cells solve AI datacenter power; stock +1000% - Equinix Medium confidence
Supplies SOFC on-site power to Equinix datacenters.
Pays to
- LS ELECTRIC High confidence· contract $217M
For its North American data center fuel-cell power projects, Bloom Energy sources switchgear and distribution transformers from LS Electric (via LS ELECTRIC AMERICA) under a 216.5 million dollar contract.Confirms KO FSS DART Published Apr 29, 2026: Single Supply Contract - North America data center fuel-cell power equipmentConfirms EN The Korea Times Published Apr 29, 2026: LS Electric lands $216 mil. data center deal as part of growth drive in US - materials, manufacturing & capacity (undisclosed) Low confidence
SOFC stack materials and manufacturing (1→2GW expansion). - Fuel · R&D (undisclosed) Low confidence
Fuel (gas/hydrogen) and R&D.Confirms EN Fortune Published Oct 16, 2025: Bloom Energy fuel cells solve AI datacenter power; stock +1000%
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Uber | lead2 | -17.8 | -41 | +149 | -2 | +35.5 | -8.8 |
| Microsoft | lead2 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | -20 |
| Palantir Technologies | lead2 | -22.7 | -64.7 | +167.4 | +340.5 | +135 | -28.7 |
| Equinix | lead1 | +20.3 | -21.1 | +25.4 | +19.5 | -16.9 | +38.6 |
| American Electric Power | lead1 | +10.7 | +10.4 | -11 | +18.2 | +29.4 | +19.2 |
| Oracle | lead1 | +36.9 | -4.6 | +30.9 | +60 | +18.1 | -27.4 |
| Bloom Energy | node | -23.5 | -12.8 | -22.6 | +50.1 | +291.2 | +181.5 |
| LS ELECTRIC | benef1 | -19.2 | +11.4 | +37.4 | +234.2 | +145 | +79.6 |
YTD as of 2026-07-10 · source: Yahoo Finance
A solid-oxide fuel-cell (SOFC) company supplying on-site datacenter power within 90 days, its edge the scarce position as a 'fast fix' for AI power shortages. The thesis is the power bottleneck — while grid expansion lags, large deals with Oracle (up to 2.8GW), AEP (1GW), Brookfield and SK ecoplant create order visibility. Risks are dependence on natural-gas fuel and executing large capacity expansion (1→2GW), and in graph terms it is a distributed-generation axis taking hyperscaler/utility demand while spending ripples to power-equipment suppliers like LS Electric (switchgear).
Analysis generated from returns as of 2026-07-09Analyst ratings
Consensus: Buy 2 · Hold 1 · Sell 0 · Avg. target $302 · Price $239.58 (07-11) · Upside +26%
Analyses covering this node
- Power is the next bottleneck: where the chain crosses into the clock of generation, transmission and cooling Jun 23, 2026